There are two things wrong
First, use DELIMITER $$ so semicolons are interpreted inside the stored procedure and not the command line. After defining the stored procedure, switch the delimiter back to semicolon (;).
Next, UPDATE clickactivity SET Clicks = Clicks + 1; will update every row and you don't want that.
SUGGESTION #1
Add WHERE IP = ipaddress; to the UPDATE clickactivity
DELIMITER $$
CREATE PROCEDURE Click(in ipaddress varchar(45))
BEGIN
DECLARE ex int;
SELECT COUNT(*) INTO ex FROM clickactivity WHERE IP = ipaddress;
IF ex = 0 THEN
INSERT INTO clickactivity (IP, Clicks) VALUES (ipaddress, 0);
END IF;
UPDATE clickactivity SET Clicks = Clicks + 1 WHERE IP = ipaddress;
END $$
DELIMITER ;
SUGGESTION #2
Why do two or three queries to register a single click ?
Change the code to do the query so that it INSERTs and UPDATEs at the same time
DELIMITER $$
CREATE PROCEDURE Click(in ipaddress varchar(45))
BEGIN
INSERT INTO clickactivity (IP, Clicks) VALUES (ipaddress, 1)
ON DUPLICATE KEY UPDATE Clicks = Clicks + 1;
END $$
DELIMITER ;
In that event, you don't need a stored procedure. Just do the INSERT
INSERT INTO clickactivity (IP, Clicks) VALUES (ipaddress, 1)
ON DUPLICATE KEY UPDATE Clicks = Clicks + 1;
Of course, doing this works if ipaddress is the PRIMARY KEY or is a UNIQUE KEY in clickactivity.
GIVE IT A TRY !!!